Why These Reddit Penny Stocks Should Be On Your Watchlist
Finding Reddit penny stocks to buy in 2021 is all about understanding the flow of the stock market. While the pandemic has put a rather volatile tinge on things, many believe that this will resolve in the near future. But, if you’ve invested in penny stocks or any stocks for the matter this year, you’re probably familiar with these massive fluctuations.
And with any large moves in the stock market, there are ways to take advantage. This includes reopening penny stocks, biotech stocks, and others that could continue to benefit from the pandemic. If we add the layer of Reddit onto everything else, we see even higher rates of volatility. However, given that most tend to swing trade penny stocks, this volatility is a desired trait.
With penny stocks on Reddit, investors should do the proper research outside of simply finding companies that are trending. This way they can be sure that there are no unexpected surprises with price action. So, considering that there is so much going on in the world, the best course is to stay up to date with as much as you can.
This article is a continuation of ‘Trending Reddit Penny Stocks to Buy Now? Take a Look At These 7’, so if you haven’t read that yet, go and give it a look. With all of this in mind, here are three more penny stocks to watch that are trending on Reddit right now.
3 More Reddit Penny Stocks That Are Trending in 2021
- Exela Technologies Inc. (NASDAQ: XELA)
- Creatd Inc. (NASDAQ: CRTD)
- Senseonics Holdings Inc. (NYSE: SENS)
Exela Technologies Inc. (NASDAQ: XELA)
XELA stock is a penny stock that we have covered frequently in the past few months. It is not only a trending company but it has been discussed on Reddit many times in the past few weeks. Only a day or so ago, the company made headlines again after reporting some solid financial advancements.
This includes around $85 million raised in a total $150 million equity program as of June 30th. These proceeds will be used to reduce its outstanding debt, as well as continue on several business initiatives in the works. At the end of June, Exela reported holding as much as $205 million in cash. This is a substantial amount and should be taken into consideration by investors.
“We are very encouraged by this overwhelming support from our retail investors and our shareholders at large, along with stabilizing business performance. The higher liquidity will help us better leverage our tech-enabled business services model by enabling us to fund our growth.
Furthermore, the targeted $25 million permanent reduction in annual debt service creates significant value to equity holders as the Company executes its strategic deleveraging.”CEO of Exela, Shrikant Sortur
This is all exciting news and could be the main reason behind XELA stock’s recent growth. Whether this makes it worth adding to your watchlist, however, is up to you.
Creatd Inc. (NASDAQ: CRTD)
Up by a respectable 21%, or so at midday are shares of CRTD stock. While no company-specific news was announced today resulting in this gain, there is a clear explanation. News came out early on in the day that a trader on social media saw a very high short interest in CRTD stock.
This is thematic with trading that has occurred with Reddit penny stocks in the past few months such as AMC stock, GME stock, BB stock, and others. Retail investors are quick to hop on high-short interest stocks as a way to bet against large hedge funds. And, this has resulted in many stocks such as the ones mentioned, climbing in the triple or even quadruple-digit percentage points in only a short time frame. A week or so ago, the company announced that it hit a solid milestone of over 30,000 subscribers on its Vocal+ platform.
“We can confidently predict reporting $1 million in net revenues for second quarter 2021, representing a 3x increase as compared to the same period last year. Next quarter, our focus will be on delivering new features that will enhance our ability to continue acquiring and retaining creators and their audiences while reducing marketing costs.”CEO of CRTD, Jeremy Frommer
This is all big news and is another reason that CRTD stock is gaining so much momentum right now. But, it is worth noting that Reddit penny stocks and other social media stocks tend to be extremely volatile. So, if fluctuations are what you’re after then this stock could be worth keeping an eye on.
Senseonics Holdings Inc. (NYSE: SENS)
Another decent gainer of the day is Senseonics Holdings Inc., pushing up by around 3.5% at midday. If you’re unfamiliar with the company, SENS is a producer of medical devices in use for the monitoring of diabetes. This includes its CGM or continuous glucose monitoring systems known as the Eversense. The Eversense can be used for up to 90 days and replaces the traditional blood test that diabetic individuals use to check their glucose levels.
Only a week or so ago, the company announced a presentation regarding its PROMISE Study data for the next generation of Eversense CGM Systems. The data showed that the device is over 90% accurate at sensing hypoglycemia in patients, which is quite a high rate. And with millions suffering from diabetes in the U.S. alone, the potential market size for this product is quite large.
Of course, it will take some time to fully commercialize this product, however, it is a complete revolution for those who have to check their blood sugar levels daily. With shares of SENS stock shooting up by over 265% in the past six months, it’s no wonder that so many investors are paying attention. Considering all of this, will it be on your watchlist moving forward?
Are Reddit Penny Stocks Worth Buying?
If you’re looking for the best penny stocks to buy, Reddit can be a useful tool in your search. However, it should not be the only place that you find penny stocks to watch. Rather, it should provide inspiration for creating a watchlist.
With so many penny stocks to choose from, landing on a few for your list can be difficult. But, with the right research and a commitment to learning how to trade, it can be much easier than previously imagined.
To read about the rest of the penny stocks on this list head to Trending Reddit Penny Stocks to Buy Now? Take a Look At These 7